House Oversight — Estate records
- Pages
- 10
- Text
- Searchable
Text as released
Machine-read from the scan. Names, dates and numbers can be misread — check anything you rely on against the original page.
From: Faith Kates Sent: 5/18/2016 5:45:03 PM To: jeffrey E. [jeeyacation@gmail.com] Subject: FW: Warning: The smart money is fleeing U.S. stocks May 18, 2016 Warning: The Smart Money Is Fleeing U.S. Stocks BY BILL BONNER, CHAIRMAN, BONNER & PARTNERS DUBLIN — The Dow dropped 180 points yesterday — or about 1%. And another clever billionaire says he is looking elsewhere for profits. Reuters: Activist investor Carl Icahn on Monday said there was a chance the stock market could suffer a big decline, saying valuations are rich and earnings at many companies are fueled more by low borrowing costs than management's efforts to boost results. "I am very cautious on equities today. This market could easily have a big drop," Icahn said. Yes, dear reader, the smart money is getting out of U.S. stocks. And here's our old friend Rob Marstrand explaining why: Right now, every measure that analyzes the S&P 500 says it's expensive. Prices are high relative to earnings, net assets, sales, and cash flow. HOUSE OVERSIGHT 031136 What's more, there's plenty of evidence that the main thing propping up the stock prices is heavy buying by the companies themselves [via share repurchases]. And now, that prop is getting kicked out from under the stock market. Bloomberg: After snapping up trillions of dollars of their own stock in a five-year shopping binge that dwarfed every other buyer, U.S. companies from Apple Inc. to IBM Corp. just put on the brakes. Announced repurchases dropped 38% to $244 billion in the last four months, the biggest decline since 2009... Recommended Links Rickards: "Warning, I've Changed My Thesis On Gold" I firmly believe we're at the beginning of the BIGGEST move the world has ever seen in gold. "Simple math" says $10,000 gold is all but certain. But, you're not going to believe what I have to say next... BEFORE you buy a single ounce of gold, read this important message. Last Chance: VIP Access To Doug Casey's Shocking 2016 For […]